Fed's ‘higher for longer’ rate strategy could keep home sales from rebounding in 2024 or limit the strength of a recovery, according to two closely followed forecasts by MBA, Fannie Mae
Opinion
Trainer and coach Bernice Ross talks to chairman and founder of Williston Financial Group, Patrick Stone, about what's next for the economy, both in the short and long terms
The added punch of mortgage rates nearing 8% is making this year's fall season particularly slow
NAR united with lending groups on Thursday to urge the Fed to maintain its current mortgage holdings in order to narrow a wide 'spread' between 10-year Treasurys and rising mortgage rates
Inflation rose 0.4% in September, a near standstill from August, according to the latest Consumer Price Index Thursday. Economists believe 'shelter' will soon recede as the largest contributor
Homebuyer demand for mortgages inched up slightly last week, as rates climbed to the highest level in more than 2 decades, according to the Mortgage Bankers Association's weekly survey
Dovish remarks from Fed policymakers help ease fears of more rate hikes, bringing yields on benchmark 10-year Treasury notes back down to where they were at the beginning of October
MBA, NAR and NAHB warned in a joint letter Monday that uncertainty over the Federal Reserve's next moves is disrupting the housing sector and threatens to send the US economy into a tailspin
According to Fannie Mae's National Housing Survey, 84% of Americans polled said it was a bad time to buy a home, and most weren't expecting mortgage rates to come down anytime soon
Nearly 60,000 home purchase contracts were canceled during August, according to Redfin. But real estate agents told Inman that buyer uncertainty and inexperienced new agents are to blame
Employers added 336,000 jobs in September, the biggest jump since January, raising the odds that the Fed will pursue 'higher for longer' rate strategy to get inflation under control
Economists are scratching their heads, and housing industry leaders are venting their frustrations as mortgage rates continue a relentless climb to new heights not seen in more than 2 decades
Economists, homeowners and agents broke down the alarming but true cost of buying property in 2023, telling Intel that rising rates and home prices are only the start for wallet-stretched buyers
Fed Governor Michelle Bowman warns bankers that she thinks the Fed may need to hike rates more than once and keep them high next year to get inflation under control
The Pending Home Sales Index dipped 7.1% to a measure of 71.8 between July and August, according to data from the National Association of Realtors